Since our episode on inflation with Glenn Hubbard last month, his dire predictions about a likely recession have gathered steam. And though we’re not yet officially in a recession, Americans’ economic pain is only growing: New record average high gas prices in June, likely rolling blackouts, shocking inflation at the supermarket and now the cost of money has skyrocketed too. Meanwhile, here in Washington, the President continues to go on vacation every weekend, deny that inflation is his fault, and push a mindless spending agenda. How did the Fed, White House economists, and mainstream professional forecasters get it so wrong? And perhaps more importantly, what should be done going forward?

These questions and more on today’s episode with Michael Strain. Strain is the Director of Economic Studies at the American Enterprise Institute.

Download the transcript here.